Net Worth

What is Net Worth? Net worth can refer to an individual or to a business or company and is simply the difference between the

Net Worth August 1st, 2016Team
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Indirect Costs

What are Indirect Costs? Indirect costs or indirect expenses, are costs which cannot be traced directly to a particular cost object. The cost object

Indirect Costs February 28th, 2018Team
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Paid Up Capital

What is Paid Up Capital? Paid up capital is the amount of capital for which a business has received payment from shareholders. Paid Up

Paid Up Capital May 30th, 2018Team
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Sunk Cost

What is a Sunk Cost? A sunk cost is a cost which a business has already incurred and which cannot be recovered in the

Sunk Cost March 23rd, 2016Team
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Capacity Cushion

The capacity cushion is the amount of spare capacity a business has expressed as a percentage of the total capacity. The capacity can refer

Capacity Cushion May 30th, 2018Team
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Zero Based Budgeting

What is Zero Based Budgeting? A budget shows the planned financial outcome of a business based on its current intentions and objectives and can

Zero Based Budgeting March 23rd, 2016Team
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Personal Account

What is a Personal Account? A personal account is an account classification in double entry bookkeeping. Personal accounts always represent an individual or an

Personal Account May 30th, 2018Team
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Real Account

What is a Real Account? A real account sometimes referred to as a permanent account is an account classification in double entry bookkeeping. Real

Real Account March 23rd, 2016Team
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Nominal Account

What is a Nominal Account? Nominal accounts include all income and expenditure accounts such as the rent expense, insurance expense, payroll, and revenue accounts

Nominal Account March 23rd, 2016Team
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Checking Account

What is a Checking Account? A checking account is an account opened by a business with a bank to enable it to deposit and

Checking Account March 23rd, 2016Team
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Supplies on Hand

What are Supplies on Hand? All businesses use small consumable items such as paper, pens, paperclips, light bulbs, hand towels etc. Normally a small

Supplies on Hand May 30th, 2018Team
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